One of the older localities of Chennai, with a glorious past, Egmore is seeing many new projects across categories.

Who doesn’t want to a buy home of their own especially when you are a first time home buyer?

Vijayaragavan Shantharam from Chennai approached the Magicbricks real estate Forum asking, “I have been living in Dubai from the past three years and now I intend to come back to my mother land. Being born and brought up in Egmore, Chennai, I would definitely like to invest here preferably in a 3BHK apartment. Though my father has a 2BHK apartment in the same locality and I have no plans to shift to Chennai anytime soon, I would want to buy a home of my own. Please suggest if Egmore is a worth-investing locality? Help me understand more about the locality in terms of returns on investment and advantages of investing here.”

Why is it profitable to invest in Egmore?

There are a host of reasons to invest in the locality. Some of them are: Egmore, in Chennai, is not only a fully developed residential area but a commercial and retail hub too The Egmore Railway Station connects the locality to other parts of the city.

Several residential and commercial areas such as Chintadripet, Nungambakkam, Purasawalkam, Anna Salai and Chetput surround the locality. The National Highway 114 passes through the locality and ensures its connectivity to other areas. The state-run Metropolitan Transport Corporation (MTC) buses frequently pass through the locality and connect it within and with other parts of the city via road.

The locality also has a suburban train station on the Chennai Beach Tambaram railway line The Chennai International Airport is situated within 20 km distance and can be reached via the Trichy-Chennai High way and the Chennai-Nagapattinam Highway Trichy-Chennai Highway.

Mahant Rajan, an existing resident of the locality says, “Egmore is centrally located and has proximity to all commercial and retail establishments. The other advantage of the locality is its social infrastructure such as schools, banks, restaurants, markets, vegetable shops, grocery stores and other day-to-day requirements.”

According to Magicbricks, the locality has been rated as 4.7 out of 5 on the basis of buyer’s feedback for offering good environment to live, decent commuting facilities and the social and physical infrastructure.

Opportunity realty

The emerging growth corridors of Chennai provide buyers many investment opportunities. Unlike other cities, Chennai’s reaction to the real estate sector was mixed last year. While sales experienced a good momentum in the beginning it was rickety towards the end with a dip in new launches by the end of the year.

According to recent Magicbricks data, among the localities in Chennai that have the potential to witness growth in property prices are Adyar which tops the list with 11.9 percent and prices expected to grow by 11.3 percent in the next three months, followed by Kodambakkam at 8.9 percent with prices expected to grow by 5.0 percent. Nungambakkam has been rated at 7.9 percent with prices expected to grow by 10.0 percent, T Nagar with 2.2 percent and Mylapore with 0.6 percent decline with prices expected to grow by 3.8 percent in the next three months.

Investment hotspots

The Investment Hotspots report by Magicbricks Research indicate that upcoming projects being built in the city’s emerging nodes that enjoy growing employment opportunities, improving infrastructure and increasing population. These new nodes are laden with realty potential in 2017 and 2018. The emerging corridors of growth in Chennai are Chromepet-Tambaram, GST and OMR.

Chromepet tambaram

It is the most well connected corridor in Chennai as it is very close to Central Chennai. Medavakam has the highest share of consumer demand mainly due to its connectivity and proximity to Velachery, a well-established residential area. As property prices are high in Velachery, people prefer to buy in Medavakkam where average prices are in the range of Rs 4,500 per sq ft as compared to Rs 8,000 per sq ft and above at Velachery. Chromepet which is the centre of the corridor have the next highest demand. Best bedroom configurations to buy are 2BHK apartments. The second most preferred is the 3BHK category in the corridor. This means that the localities in and around Nanmangalam have 2BHK property and consumers are also showing interest in this category. Areas such as Medavakkam and Velcahery have independent homes and builder floor apartments with 2 and 3BHK units.

GST Road

Residential and commercial establishments dot both sides of GST. There is special emphasis on SEZs with almost five of them already set-up and a few more in the process of getting approvals. When it comes buying homes, Guduvancheri has the highest share. This is due to its proximity to SRM University, Estancia IT Park and the Ford Plant. The area has a healthy rental yield of about 4 percent.There are more number of ready-tomove-in apartments in Guduvancheri in comparison to other localities. Urapakkam, located next to Guduvancheri, has the next highest demand in the corridor owing to the same reasons as Guduvancheri.Two BHK apartments account for around 70 percent of the total demand. There is also a good demand for independent houses with more bedrooms for renting as these are usually converted to Paying Guest accommodation. These fetch good ROI and also have good demand from ITITeS people working in the many SEZs and IT Parks here.

OMR

This corridor has the highest demand among all corridors. Apart from residential and office spaces, it also has hospitals, residential schools and shopping establishments. The locality with highest consumer demand is Sholinganallur. This is mainly due to its connectivity to Medavakkam and ECR. Two BHK properties here fetch good rents and have limited availability in the corridor. Perumbakkam, next to Sholinganallur, has the next highest demand as the locality has good social infrastructure and hospitals.

Similar to other corridors, 2BHK apartments are the most preferred. About 55 percent people looking to buy the format here. It is also observed that most of the 3BHK apartments that are purchased in the corridor are mostly for self-occupation. Interestingly, although only 2 percent people are looking at buying 4BHK and higher units, about 29 percent people are looking at rental property in this category. While there is demand for all kinds of property it is highest for 2-3 BHK.

Moving to a New Nest – Here is the checklist !

Concerned about moving to a new nest? Confused about where to start from? Here is the solution to all your ifs and buts. Undoubtedly, moving from your old house to a new one can make life chaotic. Your routine and everyday life gets tossed randomly.

Moving and rearranging household articles at some other place can become quite a cumbersome task if not planned well. So here’s the checklist on how you can plan to relocate an easy way

Do it all in an organized manner

Prepare a checklist dedicated to your move. Jot down little details as it will turn out to be useful to you. Starting from your house-hunt days, it will come out to be your partner until and unless you get settled down in your new nest.

Let me tell you how it will work for you !

Still confused about the best place to live in from the numerous options available, Why don’t you just write down every single bit of information you have stolen about a property. Once you are done with that, just give a comparative study to every house you have in your options and look, the major cause of your headache is treated. Finished with the selection, now jot down what all things which you want to take with you in your new “ Aashiana”.

Shed the extra luggage

It is just the right time now to get rid of those extra items from your luggage which you have never used in a lifetime and will not even use it. You just brought it to fulfill your fantasy or after seeing the same thing in your neighborhood. Remember that you are starting from scratch and it’s better not to carry unused belongings so as to make room for new things at your new place.

Keep a close watch on your pocket

Have you started tracking your expenses? Not yet, It’s high time to start with it now. From the time you start planning to relocate, from then only you should start keeping a track of your expenses.

Whether you are buying a small needle or a sky, you should know how you are spending your hard earned money and is it worth spending or not. Also set your budget prior to buying anything so that you don’t end up empty handed. Some money can be kept aside in case your expenses gets exceeded than the planned budget.

Go for right transportation

If you are on a go to a small distance then it is not a matter of much worry to you but in another case if you are really traveling a long way with all your household stuff moving with you, then you need to make sure that you opt for the right size of truck to carry all your belongings in one go.

Are you in a great need of information on how to choose a right size truck? I am right here to help you out. If you are moving your one bedroom stuff then you will be need 16’ cube truck and If you are moving your two and three fully furnished house then you will at least require 24’-26’ truck to fit all your stuff in one load.

Check for education and job opportunities

Once you will relocate to a new place then it will be cumbersome for you to search for some elite schools prescribed for the specific board you want for your children or to search for the job opportunities matching your profile, so it is preferable that you search for them beforehand. It is advisable to go for the residence which is close to the school of your children. For instance there are many apartments in Delhi which are in close vicinity to renowned schools, colleges and workplaces.

Flourish a good social network

It could be nerve-wrecking sometimes to move to a new place where we hardly know anybody. If you are not the type of person who easily gets involved with people or can easily start a conversation with random people, then this time internet can help you out with many forums, groups and pages. You can make new friends over there or can keep yourselves updated with the latest happenings in your surroundings.

Keeping these pointers in mind, you can assure yourself with the hassle free new nest with ‘Gem of a people’ all around !!

Prakshi Agarwal writes SEO articles for Real Estate Portal QuikrHomes. She contributes articles about Trends in real estate, ways to make the house more beautiful, how to efficiently buy property in Bangalore, Mumbai, Noida, Gurgaon and every such Indian city etc. Besides that, she is an ardent reader, a passionate writer and is currently focused on flourishing her new blog “New and View”

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This 2 BHK flat is in Prestige Bella Vista in Mount Poonamallee Road. The Area is 1340 sq Ft. It is located in 17th Floor. There are lifts available in this 18 Floor Building. The total plot area is 5 acres. The house faces East direction and over looks Garden. The building was constructed in 2016. There is 1 balcony. One closed car parking is available. The floor is Vitrified tiles. The house is Semi furnished. Kitchen is Modular Kitchen. This is a gated community and 24 hours security and Power back up for common areas is available. Amenities includes Yoga Aerobics Room, Children play area Creche Badminton Multi Purpose Hall Gym Super Market Table Tennis Squash Court Swimming Pool and Library. It is about two kms from Ramachandra Medical College. Click here